Back2Credit announces relaunch following significant investment

Back2Credit has today announced the launch of their UK consumer debt advice platform, designed to provide individuals with quick access to the financial recovery and restructuring options available to them.

Dedicated to transparency and helping consumers better understand and manage their options, the Birmingham-based firm is an FCA authorised debt solution provider with over ten years of trading experience.

Back2Credit worked with Aryza, a business with significant experience in developing debt management solutions, to incorporate technology such as Open Banking and AI-informed decision-making into the Back2Credit platform.

Via the platform, those struggling with their personal finances can clearly outline the different options available to them based on their monthly outgoings, income, level of vulnerability, current debt level and financial history. It is available 24/7, meaning that users can get debt advice at a time to suit them.

Lily Bhandal, CEO of Back2Credit, said: “With the FCA recently proposing new and stringent rule changes, designed to reduce the risk of consumers receiving non-compliant debt advice, we are pleased to announce the launch of our new platform.

“Under the new FCA guidance currently being discussed, debt advice firms must ensure that the advice they give is appropriate to the individual needs of customers, has regard to their best interests and is based on a sufficiently full assessment of their financial circumstances.

“We understand circumstances change in life and these can put a huge strain on a person’s financial wellbeing. Loss of employment, end of furlough, or illness are just some of the factors that can have a major impact on a person’s financial stability – and at times this can feel completely overwhelming.”

Following the initial online interaction, every Back2Credit customer is assigned their own dedicated personal debt advisor who deals with all their queries, providing ethical support and advice to consumers on how to effectively manage their money.